Type the words Daniel Pinto into Google this morning and you'll find little on the new sole head of JP Morgan's giant corporate and investment bank, but plenty on his former co-head, Mike Cavanagh.

Given the depth and breadth of Cavanagh's experience – as group chief financial officer, head of treasury and securities services and head of banking in CIB – he was in pole position in the minds of many as an eventual successor to JP Morgan's chairman and chief executive Jamie Dimon.

Instead, Cavanagh will join The Carlyle Group as co-chief operating officer and president this summer, leaving Pinto, an Argentinian former fixed-income trader, to run the bank's CIB unit.

The appointment is the latest in a long line of regular promotions for the unassuming Pinto. It is a rise that, perhaps because of his base in London, hasn't garnered nearly as much attention as moves made by US-based colleagues such as Matt Zames, chief operating officer, or Marianne Lake, chief financial officer, in recent years.

Pinto began his career at Manufacturers Hanover as a financial analyst and foreign exchange trader in Buenos Aires in 1983, rising through the ranks to become global head of emerging markets, and then, in 2009, co-head of global fixed income.

In 2011, he was named chief executive of JP Morgan Chase in Europe, the Middle East and Africa, and then in 2012 was made sole head of JP Morgan's fixed-income business. Not long after, he paired his markets knowledge with Cavanagh's treasury and securities services background as the pair were named co-heads of CIB.

The business he now runs on his own generated $23.3 billion in revenue in 2013, according to Coalition. The markets business he has historically focused on ranks number one or two in G10 rates, G10 credit, G10 foreign exchange, securitisation, equity derivatives, prime services and futures and options, according to Coalition. In emerging markets and municipal finance, it ranks third.

Pinto yesterday played down the impact of Cavanagh's exit when speaking to Financial News, though he noted his personal disappointment at the departure of a co-head who he has previously said he worked with "brilliantly".

Related

Asked whether his background in sales and trading would impact the units previously led by Cavanagh, he said: "My background is my background. I come from the markets part of the house.

"However, Mike and I have been very clear that we run the business together, and he was as involved in the markets side as I was in the banking side. There is no change in the strategy."

That said, there are certain areas of the business in which Cavanagh was more involved on a day-to-day basis and which Pinto said he wants to make sure get settled.

One such uncertainty that needs to be addressed is where he'll based.

Several US banks have global heads of markets businesses in London – Bank of America Merrill Lynch's global head of equities and Citigroup's global head of FX are two such examples – but it is rarer to find the overall head of a US bank's investment banking operations based in London.

When asked if he might move to New York as a result of his new role, Pinto argued where he lives is "almost irrelevant" given how often he travels. "I love London," he said. "This news is only one day old," he said.

The departure of Cavanagh also raises questions about whether Pinto might elevate senior advisory bankers within JP Morgan's ranks to help share the load on the banking side of the CIB, or indeed promote a right-hand man or woman in London should he be called back closer to home.

Pinto wouldn't be drawn yesterday on whether any such changes were in the works but said that any organisation as big at JP Morgan would always need to evolve.

For Pinto, then, JP Morgan post-Cavanagh is "business as usual" for now. One thing does look set to change though; his quiet rise through the senior ranks should start attracting more attention.